Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Newport Beach | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $155,554 | $96,718 | $78,145 |
| Median Personal Income | $121,044 | $68,943 | $61,726 |
| Average income growth | 4.1% | 6.0% | 5.1% |
| Six-Figure Earners | 37.7% | 16.9% | 13.2% |
The median household income in Newport Beach is about 61% higher than in California. Income has been growing slower in Newport Beach (4.1%/yr) than in California (6.0%/yr).
About 38% of adults in Newport Beach earn six figures ($100,000 or more) a year, higher than the California average of 17%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Newport Beach, California grew by 44.3% from 2009 to 2023, reaching $155,554 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Newport Beach | Gender Pay Gap | Gini Coefficient
| Metric | Newport Beach | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.530 | 0.596 | 0.570 |
| Male Median Income | $130,458 | $73,016 | $67,746 |
| Female Median Income | $99,680 | $63,704 | $54,793 |
| Gender Pay Gap | 23.6% | 12.8% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Newport Beach, it is 0.530, lower than California's 0.596, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 31% more than women's income in Newport Beach, California. Over a 35-year career, a 31% wage gap accumulates to roughly $1,077,230 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Newport Beach, California has narrowed from about 35% to 24% in 2023. In dollar terms, the gap has narrowed by $3,837 since 2009.
Employment
| Metric | Newport Beach | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 6.4% | 5.2% |
| Working from Home | 26.9% | 15.5% | 13.4% |
| Commute time (minutes) | 18 | 23 | 22 |
Approximately 1,918 people are unemployed in Newport Beach, California.
The average commute time in Newport Beach is 18 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Newport Beach, California has fallen from 5.9% to 4.4% in 2023.
Conclusion
Considering all these factors, Newport Beach, California has an overall wealth index grade of A+, making it far better than California, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Newport Beach, California.
How Rich Is Newport Beach, California?
Newport Beach has a wealth index grade of A+. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A+ grade means it is one of the most prosperous areas in the country. The median household income is $155,554, about 61% higher than the California average of $96,718.
What is the current median household income in Newport Beach, California?
As of 2023, the median household income in Newport Beach, California is $155,554.
What was the median household income in Newport Beach in 2023?
In 2023, the median household income in Newport Beach, California was $155,554.
What was the median household income in Newport Beach in 2020?
In 2020, the median household income in Newport Beach, California was $132,204.
What is the Gini coefficient in Newport Beach, California?
The Gini coefficient in Newport Beach is 0.530. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Newport Beach, California?
Since 2009, the income gap between men and women in Newport Beach, California has narrowed from about 35% to 24% in 2023. In dollar terms, the gap has narrowed by $3,837 since 2009.